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Yahoo

Business - Bank of America settles mortgage probes for $16.65 billion


(Reuters) - Bank of America Corp has reached a $16.65 billion settlement with U.S. It is expected to resolve the vast majority of the Charlotte, North Carolina-based bank`s remaining liabilities tied to its purchases of Countrywide Financial Corp, once the nation`s largest mortgage lender and Merrill Lynch & Co. Bank of America said the accord is expected to reduce third-quarter earnings by about $5.3 billion before taxes, or about 43 cents per share after taxes.


Thursday, August 21, 2014  14:34

Yahoo

Business - U.S. jobless claims fall, continued claims at seven-year low


The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to a sustained improvement in labor market conditions. Initial claims for state unemployment benefits declined 14,000 to a seasonally adjusted 298,000 for the week ended Aug. 16, the Labor Department said on Thursday. A Labor Department analyst said there were no special factors influencing the state level data. The jobless claims report showed the number of people still receiving benefits after an initial week of aid fell 49,000 to 2.50 million in the week ended Aug. 9.


Thursday, August 21, 2014  13:42

BBC

America - US bank in record $16.7bn settlement


Bank of America has agreed to pay a record $16.7bn (£10bn) to US authorities for misrepresenting the quality of loans sold to investors.


Thursday, August 21, 2014  14:34

BBC

America - Bank of America in record payout


Bank of America has agreed to pay a record $16.7bn (£10bn) to US authorities for misrepresenting the quality of loans sold to investors.


Thursday, August 21, 2014  14:21

Yahoo

Business - U.S. jobless claims fall, bolster labor market outlook


By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, pointing to a sustained improvement in labor market conditions. Initial claims for state unemployment benefits declined 14,000 to a seasonally adjusted 298,000 for the week ended Aug. 16, the Labor Department said on Thursday. A Labor Department analyst said there were no special factors influencing the state level data. The four-week average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 4,750 to 300,750.


Thursday, August 21, 2014  14:09

BBC

Africa - Cast of South African soap sacked


The 16-strong cast of popular South African soap opera Generations is sacked after a long-running dispute over pay and contracts.


Thursday, August 21, 2014  13:29

CNN

Top Stories - 9 pollution beaters


Beijing may have to wait another 16 years before it will have safe, clean air, according to a report from the capital`s environmental authority earlier this week.


Thursday, August 21, 2014  03:46

BBC

Africa - St Helena, Ascension, Tristan da Cunha profiles


An overview


Thursday, August 21, 2014  03:46

Yahoo

World - Factbox: Marina Silva`s economic proposals for Brazil


(Reuters) - Brazilian presidential candidate Marina Silva has little experience with economic policy, but her advisers promise a more orthodox, business-friendly approach than leftist President Dilma Rousseff has taken. Eduardo Giannetti da Fonseca, an economist and top adviser to Silva since her 2010 presidential bid, has called her economic platform very similar to that of centrist candidate Aecio Neves, with whom she is running neck and neck for second place in a recent poll. Giannetti says the main points of her economic platform will include: MORE FISCAL DISCIPLINE Tightening the federal budget to generate a reliable surplus before interest payments would limit inflationary pressures and ease the burden on the central bank to keep interest rates high. CONSISTENT INFLATION TARGETING The central bank should have the autonomy to hew closer to its inflation target in order to win back credibility and reduce long-term inflation expectations.


Thursday, August 21, 2014  01:22

Yahoo

Business - Canada`s Couche-Tard makes short-list in $16 billion Sinopec unit sale: sources


By Denny Thomas and Heng Xie HONG KONG/BEIJING (Reuters) - Canadian retailer Alimentation Couche-Tard Inc and China`s Tencent Holdings Ltd are among suitors short-listed to buy a $16 billion minority stake in China`s Sinopec Sales, the world`s largest fuel retail network, people familiar with the matter told Reuters. China Life Insurance Co Ltd, the nation`s biggest insurer, Hong Kong-listed ENN Energy Holdings Ltd, privately-owned Fosun Group, Hopu Investment Management and Affinity Equity Partners have also progressed to the next round, said the people who declined to be identified as the sale process is confidential.


Wednesday, August 20, 2014  02:42

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